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Climate Investment Funds

Now when almost all the major players have announced their emission reduction targets, the talk has turned to money and the ways the battle against climate change can be financed. The US has proposed that a new climate fund should be established under the World Bank, which would direct funding to climate projects in developing countries. Further, the Asian Development Bank intends to direct 700 million dollars to two new investment funds that will primarily concentrate on financing climate change projects in developing countries. In short term, it has been estimated, that some 10 billion dollars are needed to cover the costs of the most current developments. In long term, some 100 billion dollars a year might be needed to cover the costs of climate change adaptation.